Feb 6, 2013 7:30am EST
to face and i think much more important is the very large, long run deficit that a thing all of us want our policymakers to come together and address how we're going to do with it. i think that's unfortunate will have to be front and center in the next year coming up with that. i sure hope it is. >> let's see, i think first thing just to mind ourselves out is that the impact of it president on the short-term macro economy is almost always exaggerated. presidents can have a big impact on the economy in the medium term and long run, largely -- and while the fed has cut aid to help they can should have a much bigger short-term effect, we immediately looked to the white house and said what are you going to be about the economy right now? dr. romer and i would have to go on tv and there is points and talk about the job supports and what would happen over the course of the next month and the thing that is so frustrating note in fact not much that you were doing action has a direct result what will happen over the course of the next month. i think it is interesting how the debate has shifted.
Feb 8, 2013 6:00am EST
, the proposals that have been submitted to us will lead to a deficit, college. already in 2012, the budget has a deficit of 16 billion euros. we have to sacrifice and penalize thousands of students. what's the meaning of this? what's the point of this that members states, heads of state are just going to run a deficit? we are not going to go along with his, mr. president. there are rules and we will make sure they are respected, starting with article iii 10 which calls for a balanced budget. do i really have to remind you that this deficit system led to member states to the situation which we find ourselves today? it's a standing that member states are opposing something on the one hand, they are asking to strengthen our economic governance with a sixpack and with a sixpack and a two pack, and they're asking us to stop running deficits. but they want us to learn these bad habits all over again. we've got 960 billion commitments, and the same amount of payment. any direction of a company will tell you that's economic suicide, and it is too simple, mr. president, and you shouldn't hide behind da
Feb 7, 2013 6:00am EST
deficit is a big problem. think about it. and our national debt -- [applause] sixteen a half trillion dollars, do you think that's not a lot of money? i'll tell you what, count one number per second which a candidate because what you get to 1000 it takes you longer to get to a second the but one number per second, do you know how long it would take you to count to 16 trillion? 507,000 years, more than half a million years to get there. we have to deal with this. here's a terrible. a family falls on hard times. a dad loses his job or gets demoted, it's part-time work. has five children. he comes to the five children and he says, we are going to have to reduce your allowance. well, they're not happy about it but he said, except for john and susan. they are exceptional. they get to keep their allowance. we may give them more. how do you think that is going to go down? not too well. same thing happens, enough said. what about our taxation system? so complex, there is no one who can possibly comply with every -- if i wanted to teach you or you, i could get you on the tax issue. that doesn'
Feb 9, 2013 2:00am EST
decade we've seen an enormous increase in the u.s. trade deficits with the rest of the world, especially with countries like china. and today i happened to release a report which looks at the effect of currency manipulation, which is perhaps the single most important factor which explains the growth of the trade deficit. i've shown that in limiting that trade deficit -- sorry, eliminating currency manipulation could reduce that trade deficit by roughly $190 billion to $400 billion and create between 2.2 million and 4.7 million jobs. doing that would increase manufacturing employment by up to 1 million jobs. that's a big down payment on the hole we've created in manufacturing employment. soy think one of the things we need to do is create demand for more manufacturing products. that's what we did many the 1990s but didn't do in the last decade. if the demand was, there it went to foreign sources. we need to shift that to domestically produced goods and that will result in the hiring of domestic workers. we need those jobs because manufacturing jobs are among the best jobs for workers, esp
Feb 6, 2013 2:00am EST
is it is getting to the root crop -- the root causes of our trust deficit, our leadership deficit, and putting concepts, practical solutions before the american people. >> no matter what your thoughts maybe, if you really want to fix things, this is the central place to get it done. >> we have problem solvers in congress who want to wear the no labels badge. >> that is the first step to take. >> if we do not come together, we will be the first generation to turn over this country in worse shape than we received it. >> my friends are immigrants. they came to america with the fundamental hope of what this government stands for. >> people across the country want america to be the greatest nation on earth. >> the country they came from had a civil war going on. it did not have the opportunities that america provides. >> we want to make sure that we are the hope of the world and this is the place for your dreams to come true. >> it is actually up to all of us to strengthen our civic backbone and demand something different. a vision of how to get it done. no labels can help do that. >> we are changi
Feb 5, 2013 2:00am EST
in mind you are objective is to get the deficit below 20% by 2015. we are on track for that. we need to pay overtime allowances for agency workers and so on on new year's. the congress and the u.s. government operate differently than government here. the strategy with enough time to achieve that. there is a constant explanation to people as to how you intend to get the. we need european support. in that sense, the united states is such a huge country. with such potential. i believe that i think the united states also needs to look at the global positioning because of the impact on the world economy. >> thank you very much. i'm sorry that we are going to have to draw this to a close. i was hoping that the irish prime minister with a a message saying that if you could only get your act together and cure these problems, it would be so much better for europe and the world. but you are way too much of a diplomat for that. [laughter] >> thank you very much. i'm sorry we cannot take more questions. it's been a fascinating session. please join me in thanking the